Strategic
Review*
Performance
Review*
Corporate
Governance
Financial
Statements
01
Highlights
02
Group overview
04
Chairman’s statement
08
Chief Executive’s review
10
Strategic growth priorities and enablers
13
Business model
14
Strategy in action
24
Corporate responsibility
28
Measurements and targets
30
Principal risks and uncertainties
36
IMI Critical Engineering
38
IMI Precision Engineering
40
IMI Hydronic Engineering
44
The Board
46
Letter from the Chairman
47
Corporate Governance Report
52
Audit Committee Report
55
Nominations Committee Report
57
Directors’ Remuneration Report
82
Introduction
84
Primary statements
92
Section 1 - Basis of Preparation
93
Section 2 - Results for the Year
104
Section 3 - Operating Assets and Liabilities
111
Section 4 - Capital Structure and
Financing Costs
135
Section 5 - Other Notes
141
Directors’ Report
154
Five year summary
156
Shareholder and general information
We introduce our Board, and explain our
governance structure and how it operates.
Our financial statements for the year presented
in a user-friendly format.
We take a look at our 2014 results, division
by division.
Our Chief Executive reviews 2014 and
outlines our strategy and the progress we
are making.
Introduction
34-41
06-33
80-157
01-05
42-79
* The Strategic Report on pages 6 to 41 has been approved by the Board of Directors and signed on
their behalf by
Mark Selway,
Chief Executive, on 26 February 2015.
IMI plc is registered in England No. 714275
IMI plc
IMI plc, the specialist engineering company, designs, manufactures and services
highly engineered products that control the precise movement of fluids. Its innovative
technologies, built around valves and actuators, enable vital processes to operate
safely, cleanly, efficiently and cost effectively. The Group works with industrial
customers across a range of high growth sectors, including energy, transportation
and infrastructure, all of which are benefiting from the impact of long-term global trends
including climate change, urbanisation, resource scarcity and an ageing population.
IMI employs over 12,000 people, has manufacturing facilities in more than 20 countries
and operates a global service network. The Company is listed on the London Stock
Exchange. Further information is available at
.
Inside this report
Front cover photo:
Final assembly, setting and testing of an IMI STI actuator on an IMI CCI control valve at our Critical Engineering facility in Brno, Czech Republic
See the report on
the IMI plc website:
